Feedstock costs trigger US May PTA price hikes

29 May 2007 22:59  [Source: ICIS news]

HOUSTON (ICIS news)--Higher feedstock costs drove up US May purified terephthalic acid (PTA) contract prices by 1.84 cents/lb to settle at 48.06-50.06 cents/lb ($1,059-1,104/tonne) DEL (delivered), industry sources said on Tuesday.

The May settlement marked the third consecutive increase for PTA, with gains of 0.84 cents/lb in March and 2.18 cents/lb in April.

PTA contracts also moved up in January by 1.35 cents/lb but lost 1.15 cents/lb in February, according to global chemical market service intelligence ICIS pricing.

A 2.75 cents/lb boost in the May paraxylene (PX) contract price, which settled at 58.00 cents/lb DEL, triggered the May PTA hike.

North American PTA producers include Alpek, BP, Interquisa (Montreal) and Temex.

By: Luly Stephens
+1 713 525 2653

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